On Sunday, President Biden shocked the nation by announcing that he would not accept the nomination to represent the Democratic Party in November. Following the statement, prominent business figures and trade organizations weighed in on the news and its implications for the United States as the heated election grows closer.
Billionaire multi-company CEO Elon Musk, who officially endorsed former President Donald Trump after the assassination attempt against him, wrote on X, “My smartest friends, including those living in the San Francisco Bay Area who have been lifelong Dems, are excited about Trump/Vance. I believe in an America that maximizes individual freedom and merit. That used to be the Democratic Party, but now the pendulum has swung to the Republican Party.”
However, LinkedIn co-founder Reid Hoffman, a major donor to the Democratic Party and staunch opponent of Trump, praised Biden’s decision to drop out while voicing his support for Vice President Kamala Harris. He claimed that Biden “is a leader who acts with the best interests of America in mind” and called his withdrawal from the election “one of the most selfless acts we’ve seen from a politician in modern American history.”
“The Democrats are the party of policy, progress, and action. When presented with the choice between Kamala Harris and Donald Trump, I believe in the American people to make the right decision for our country. The Biden-Harris administration has put this country on the right track. It’s time for us to unite. I wholeheartedly support Kamala Harris and her candidacy for President of the United States in our fight for democracy in November,” Hoffman said.
Furthermore, billionaire hedge fund manager Bill Ackman has been highly critical of President Biden while endorsing the Trump campaign. “If @KamalaHarris is not the nominee, it would be an acknowledgment that she was never qualified to be vice president,” he shared on X. “@KamalaHarris will therefore be the nominee.”
The U.S. Chamber of Commerce also released a statement on Biden’s withdrawal, praising Biden for his service to the country. “We commend and thank President Biden for his legacy of service to our country and extend him our best wishes,” the most significant trade group for businesses in the country wrote. “The U.S. Chamber of Commerce looks forward to continuing to engage with leaders across the political spectrum to forge solutions and advance policies that will make the American Dream a reality for all.”
The American Tribune initially covered the news from Sunday that Biden would be dropping out of the race. The president shared on X, “My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best decision I’ve made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it’s time to come together and beat Trump. Let’s do this.”
Watch a Democratic Rep. admitting that 9 p.m. was “too late” for Biden to participate in a debate below:
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